Trading strategy - Reliance, Sbi, Axis Bank, Icici Bank, Tatasteel - 7 January 2014

Reliance

Today, 850 the crucial intraday level. Trade long above that level and trade short below that level in the intraday.

The level 850 is crucial for short term. Positional Traders, trade long above 850 for a target of 875. Trade short below 850 for a target of 845.

Nifty Technical Outlook, Positional & Intraday Trading Levels, 6 January 2014

Today, 6220 is the crucial intraday level for Nifty.

If Nifty sustains below 6220, then it could test 6175 and below that level it could test 6150.
Instead, if Nifty trades above 6220, then it could test 6265.